According to plan, the Ministry of Industry and Trade and the Ministry of Finance will adjust retail gasoline prices periodically tomorrow (October 24).
The leader of a major petroleum distribution company in the South said that after the previous adjustment period, crude oil prices increased slightly but recently have tended to decrease.
On October 22, the price of imported gasoline in the Singapore market was traded at 84.73 USD/barrel for RON 95 gasoline, down slightly by 0.25 USD/barrel compared to last week; RON 92 gasoline was at 79.06 USD/barrel, down more than 1 USD/barrel. Therefore, it is likely that domestic gasoline prices will decrease slightly during this adjustment period.
Gasoline prices are expected to decrease by about 50-100 VND/liter, while diesel prices may decrease more sharply by about 300-350 VND/liter. In case the Ministry of Industry and Trade and the Ministry of Finance jointly draw from the Price Stabilization Fund, gasoline prices may decrease less or remain the same.
Similarly, the owner of a petroleum distribution company in the North also predicted that gasoline and diesel prices will both decrease slightly in tomorrow's operating period. The discount on gasoline on October 23 at many depots is currently around VND1,300-1,800/liter.
If forecasts are correct, domestic gasoline prices will have their second consecutive decrease after only one increase.
In the most recent adjustment period on October 17, the adjustment agency decided to reduce the price of E5 RON 92 gasoline by 110 VND/liter to 19,730 VND/liter; RON 95 gasoline by 100 VND/liter to 20,960 VND/liter.
Similarly, diesel price decreased by 180 VND/liter, to 18,320 VND/liter; kerosene decreased by 170 VND/liter, to 18,620 VND/liter. Fuel oil increased by 180 VND/kg, to 16,090 VND/kg.
